ANN ARBOR, Mich., June 21, 2013 /PRNewswire/ -- Tecumseh Products
Company (Nasdaq: TECUA/TECUB), a leading global manufacturer of
compressors and related products,announced today that it has
expanded its board of directors from five to seven directors and
that Douglas M. Suliman, Jr. and
Gary L. Cowger have been named to
its board of directors to fill the newly created vacancies
effective June 19, 2013.
"We are delighted to welcome Doug and Gary," said Zachary Savas, member of the Tecumseh board. "We believe their
experience and expertise will be tremendous assets to the board and
to the company."
Mr. Suliman is a private investor and since February 2011
has served as President of Breton Capital Management, LLC, a
special situation private equity investment management firm.
Mr. Suliman has also served since February 2011 as the Managing Member of Breton
Funding SE, LLC, which has majority control of SmartEquip, Inc., an
e-commerce network service provider for global equipment
manufacturers and their large mobile equipment fleet
customers. From February 2006 until December 2009,
Mr. Suliman was Managing Member of NR Investments, LLC, a
special purpose entity formed to invest in creditor claims.
From June 2003 until August 2006, he served as
Co-Chairman and Executive Director of NationsRent, Inc., a
construction equipment rental company. Mr. Suliman is
currently a member of the Trust Board of the Tufts Medical Center,
a not-for-profit teaching and research hospital based in
Boston, Massachusetts.
Mr. Suliman has extensive corporate restructuring, capital
formation, mergers, acquisitions and public company experience,
including as a board member and executive officer of NationsRent,
Inc., a company that had publicly issued debt. NationsRent
faced liquidation at the time entities controlled by
Mr. Suliman and The Baupost Group began acquiring control of
the company. NationsRent was subsequently sold for
approximately $1 billion. He
previously served on the board of directors of numerous public
companies and is a past Trustee and Chairman of the Investment
Committee of The Charles River School. Mr. Suliman is
also the largest shareholder among our current directors.
Mr. Cowger has served since November
2009 as Chairman and Chief Executive Officer of GLC
Ventures, LLC, a business consulting services company. He
retired as Group Vice President of Global Manufacturing and Labor
Relations for General Motors Corporation in December 2009, a
position that he held since April 2005. Mr. Cowger
began his career with General Motors Corporation in 1965 and held a
range of senior leadership positions in businesses and operations
in several countries, including President of GM North America,
Chairman and Managing Director, Opel, AG, and President of GM de
Mexico. In 2006 he was elected to the National Academy of
Engineering and served as the Co-Chair of the Martin Luther King Memorial Foundation's
Executive Leadership Cabinet. He has been a director of
Delphi Automotive PLC since November 2009. He is
the immediate past Chairman of the Board of Trustees of
Kettering University and is on the
Board of Trustees of the Center for Creative
Studies.
Mr. Cowger has extensive leadership, manufacturing and
public company experience. Through his substantial experience
in the automotive industry across global markets, Mr. Cowger
provides industry and operational expertise and strengthens the
Board of Directors' global perspective.
Tecumseh Products Company is a global manufacturer of
hermetically sealed compressors for residential and specialty air
conditioning, household refrigerators and freezers, and commercial
refrigeration applications, including air conditioning and
refrigeration compressors, as well as condensing units, heat pumps
and complete refrigeration systems. Press releases and other
investor information can be accessed via the Investor Relations
section of Tecumseh Products Company's Website at www.tecumseh.com.
Contact:
Janice Stipp
Tecumseh Products
734-585-9507
Investor.relations@tecumseh.com
SOURCE Tecumseh Products Company